Hilo County, on the Big Island of Hawaii, expects to take in about $2 million in penalties and interest this year from property owners who haven't paid their property taxes, West Hawaii Today says. Apparently, that's doesn’t include the latest round of property taxes that are come due Feb. 21. All in all, the real estate downturn has obviously affected them adversely. So, Hamakua Councilman Dominic Yagong wants to see what he can do for property owners who might be able to pay up if given some slack on the deadline. The county charges a 10 percent penalty plus one percent interest each month the payment is late. If you require a Big Island Real Estate agent then I can suggest this fine source.
According to WHT, fewer people appealed their assessments last year, but looks like the economy is catching up to some of us, and some homeowners need a break. The biggest ‘tax delinquent’ is California Cove at Hawaii LLC. They owe $332,850 on four parcels. Tax records say the Irvine, Calif. company paid $19.15 million in 2007 and 2008 for five parcels on Pauoa Way and Ke Kalani Drive near Mauna Lani Resort. Lots of Big Island property owners are using agricultural tax exemptions to avoid paying their fair share of taxes. The county’s Real Property Tax Division is required every five years by a County Council bill enacted five years ago to review agricultural assessments. Ernest Matsumura who’s a county chairman on the board says a re-evaluation of the rules and qualifications for the agricultural exemption program is the needed medicine. They know that lots of homeowners are abusing exemptions and the county better do something. They so it because when they put their property into one of the county's agricultural programs they get breaks on both the assessed value of the property and the tax rate. Oh Big Island Real Estate, where have you gone now?
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